National Bank's notes-154 of #817th issue - floatation results

/IRBIS, June 6, 03/ - Today the National Bank of Kazakhstan (NBK) held the 817th auction for floatation of notes with KZT100 par value and 154-day circulation term what is admitted by the new edition of "The rules of issue, floatation, circulation and redemption of short-term notes of the National Bank of Kazakhstan", which took effect since May 30 of 2003. Size of satisfaction of noncompetitive bids is 50% of specified amount. The auction was conducted with additional floatation, realized during the day. Following are complete data of offering. Notes with such the circulation term are floated first. ------------------------------------------------------- Type of the securities Notes-154 NIN KZW1KW228171 KASE trade code NTK817.154 IRBIS registration number 817/n Par value, KZT 100.00 Time basis actual/365 Offering date (auction) June 6, 03 Settlement date June 6, 03 Circulation start date June 6, 03 Maturity date November 7, 03 Days in circulation 154 days Planned volume, KZT m 500.0 Number of participants - Primary agents 14 Demand, KZT m 11,873.5 WA yield on demand, % APR 5.46 Actual volume, KZT m 11,622.9 Cut-off price, KZT 97.76 WA price, KZT 97.76 Maximum yield, % APR 5.43 Weighted average yield, % APR 5.43 Effective WA yield, % APR 5.50 ------------------------------------------------------- Relative to the previous successful notes offering (KZW1KW398164, notes- 273 dated June 5, 03) demand increased by KZT6,089.0 m (2.1 times), actual volume of satisfied bids - by KZT6,208.0 m (2.2 times), bonds' yield in effective expression - from 5.48% APR to the figure, which is shown in the table. In the opinion of specialists of IRBIS the significant growth of demand was caused by big volume of USD sales at KASE and banks' unwillingness to "remain in dollars" at week-end. Judging on volume of securities offering, National Bank still sterilizes banks' correspondent accounts with reserve after tenge interventions at the currency market. [2003-06-06]